A Clear Vision And Focus On Execution

Penelope Herscher joined our board of directors in September 2021. She has extensive technology sector experience as a publicly traded company board member, executive, and entrepreneur. Ms. Herscher currently serves as chair of the board of directors at Lumentum Holdings, Inc. and is a board member of FORVIA SA and several private companies. She has previously served as a board member for Embark Trucks, Inc. (2022-2023), Verint Systems, Inc. (2017-2021), PROS Holdings, Inc. (2018-2021), and Rambus, Inc. (2006-2018).

Previously Ms. Herscher served as president and chief executive officer of FirstRain, Inc., an enterprise software company (2004-2015) and as executive vice president and chief marketing officer of Cadence Design Systems, Inc. (2002-2003). She was president and chief executive officer of Simplex Solutions, Inc. from 1996 to 2002, taking the company public in 2001 and leading it until its acquisition by Cadence Design Systems in 2002. She holds a B.A. Hons and an M.A. in mathematics from Cambridge University in England.

Mark Adams, President and CEO, has extensive experience and expertise leading innovative technology companies. Whether at the helm of a global leader of memory solutions or a major LED lighting manufacturer, Mark combines a team-first approach. His passion for sports growing up taught him the value of leadership and teamwork which has led to his focus on putting people first and emphasizing team collaboration at Penguin Solutions.

Mark joined SGH (Smart Global Holdings, Inc.) in 2020 and has led its transformation from a holding company to one unified brand, Penguin Solutions. Prior to joining SGH, he served as CEO of Lumileds, President of Micron, and held leadership roles at Creative Labs and NCR Corp. Currently, he serves on the board for Cadence Design Systems.

Mark holds a Master of Business Administration (M.B.A.) focused in Finance and International Marketing from Harvard University and a B.A. in Economics from Boston College.

Randy Furr has been a member of our board since September 2017. He has over 35 years of experience in the technology sector and is an experienced financial and operations executive. Mr. Furr served as Bloom Energy Executive Vice President and Chief Financial Officer (2015-2020) and as Corporate Executive Vice President and Chief Financial Officer of Spansion Inc. (2009-2015), at which time Spansion was acquired by Cypress Semiconductor Corporation. He has also held senior executive positions at Magellan Navigation, Inc.; Aliph, a consumer Bluetooth telephony device company; Adobe Systems, Inc; and Sanmina Corporation, an electronics manufacturing services provider. He also served as a board director for Sanmina Corporation from 1998 until 2005.

Mr. Furr holds a Bachelor of Business Administration from the University of Oklahoma and is a Certified Public Accountant.

Bryan Ingram joined our board of directors in October 2018. He has held a number of leadership roles over the years, most recently as Senior Vice President and General Manager of Broadcom’s Wireless Semiconductor Division (WSD), where he oversaw the development, production, and marketing of RF components used in handsets and other communications devices.

Mr. Ingram previously spent eleven years at Avago Technologies, first as Senior Vice President and General Manager of the company’s WSD (2005-2013) and later as Chief Operating Officer (2013-2015), leading the legacy Avago business units and operations. He was Vice President and General Manager of the Agilent Semiconductor Products Group WSD (1999-2005) and held various management positions at Hewlett Packard and Westinghouse between 1986 and 1999.

Mr. Ingram holds a B.S. in electrical engineering from the University of Illinois Urbana-Champaign and a master’s in electrical engineering from Johns Hopkins Whiting School of Engineering.

Sandeep Nayyar has served on our board of directors since September 2014. He has been Vice President and Chief Financial Officer of Power Integrations, Inc., a supplier of high-performance electronic components, since 2010. Previously Mr. Nayyar served as Vice President of Finance for Applied Biosystems, Inc., a developer and manufacturer of life sciences products (2001-2009); held various senior finance roles including Vice President, Finance at Quantum Corporation, a computer storage company (1990-2001); and also worked at Ernst & Young LLP, a public accounting firm (1986 to 1990).

Mr. Nayyar is a Certified Public Accountant in the State of California and a Chartered Accountant in India and has a Bachelor of Commerce from the University of Delhi, India.

Mark Papermaster joined our board of directors in August 2022. He brings more than 35 years of engineering and technology industry experience and currently serves as Chief Technology Officer and Executive Vice President, Technology and Engineering, at Advanced Micro Devices, Inc. (AMD), where he is responsible for technical direction and product development, including microprocessor design, I/O and memory, system-on-chip (SOC) methodology, and advanced research.

Before joining AMD in 2011, Mr. Papermaster led the Silicon Engineering Group at Cisco Systems, Inc.; was Senior Vice President of Devices Hardware Engineering for iPod and iPhone at Apple, Inc.; and held multiple roles in technology and server development at IBM Corp. He is a long-time member of the University of Texas Cockrell School of Engineering Advisory Board, the Juvenile Diabetes Research Foundation, the CTO Forum Advisory Board, the IEEE Industry Advisory Board, and the Global Semiconductor Alliance Board of Directors.

Mr. Papermaster holds a B.S. in electrical engineering from the University of Texas at Austin and an M.S. in electrical engineering from the University of Vermont.

Mary G. Puma has been a board director at Penguin Solutions since July 2023. She has over 25 years of experience working in the semiconductor industry. From 2002 to 2023, Ms. Puma served as President and Chief Executive Officer of Axcelis Technologies, Inc., a publicly held company that supplies capital equipment for the semiconductor chip manufacturing industry. Before becoming Axcelis CEO, she served as its President and COO (2000-2002). In 1998, she was named General Manager and Vice President of Axcelis’s predecessor, the Implant Systems Division of Eaton Corporation, a global diversified industrial manufacture. She joined Eaton in 1996 as General Manager of the Commercial Controls Division. Prior to her time at Eaton, Ms. Puma spent 15 years in various marketing and general management positions at General Electric.

Ms. Puma has been executive chair of the Axcelis board since May 2023, previously serving as Axcelis board chair from 2005 to 2015. She is also board chair for SEMI, a global industry association serving the manufacturing supply chain for the micro- and nano-electronics industries (2023-present) and sits on the board of Ciena Corporation, an American telecommunications networking equipment and software services supplier (2023-present) and Allegro MicroSystems, Inc., a leader in power and sensing semiconductor solutions for motion control and energy-efficient systems (2023-present). She served as a member of the Nordson Corporation board of directors from 2001 to 2023.

Ms. Puma holds a B.A. in economics from Tufts University and an M.S. from the MIT Sloan School of Management.

Maximiliane Straub has been a member of the Penguin Solutions board since April 2019. She was with the Robert Bosch companies for over 26 years, most recently as President Global Business Services Bosch (2020-2024) but also as Chief Financial Officer and Executive Vice President of Finance, Controlling, and Administration of Bosch North LLC (2010-2020). She is a guest lecturer for the University of Michigan Ross School of Business program.

Prior to joining the Robert Bosch companies, Ms. Straub held several financial positions within the semiconductor division of Siemens and Siemens/Matsushita. In 2010, 2015, and 2020, Ms. Straub was recognized as one of the “Top 100 Women in the Auto Industry” by Automotive News. She has served on the boards of directors of MTS Systems Corporation, Horizon Global Corporation, and AQuantia and sits on the board of Inforum, a professional organization focused on creating strategic connections to help professional women advance.

Her educational degrees include Industriekauffrau IHK and an advanced business administration degree with thesis, Diplom-Betriebswirt from the University of Munich.